Tasarruflar Ve Makroekonomi̇k Deği̇şkenler Arasindaki̇ Uzun Dönemli̇ İli̇şki̇: Oecd Ülkeleri̇ Örneği̇

Bulut, Esra Ateş; Karakaya, Aykut

doi:10.18092/ulikidince.444201

Cited by 2 publications

(1 citation statement)

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“…Callen and Thimann (1997), in their study on 21 OECD countries, concluded that growth, demographic changes, inflation, real interest rate and unemployment rate play important roles for private and government savings. Bulut and Karakaya (2018) also investigated the relationship between savings and macroeconomic variables. According to the estimation results, it is seen that the variables of income per capita, short-term real interest rate and inflation have a negative effect on private savings, while liquidity has a positive effect.…”

Section: Literature Reviewmentioning

confidence: 99%

The Effect of Macroeconomic Variables on Private Savings in BRICS-T Economies

TELEK

MİÇOOĞULLARI

2022

İktisadi İdari Ve Siyasal Araştırmalar Dergisi

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Considering the fact that savings are very important for developing countries and that they should be increased, in this study, the effects of macroeconomic variables consisting of economic growth rate, inflation rate, real interest rate and per capita income on private savings for BRICS-T countries, have been examined with the annual data of 1996-2019 period. For this purpose, firstly, the cross-sectional dependency and homogeneity situations between the mentioned countries have been evaluated. Then, the second generation panel unit root test, the CADF Test, has been applied to test for stagnation. Westerlund (2008) Durbin-H method has been used to determine the long-term cointegration relationship. In the estimation of long-term cointegration coefficients, for inter-unit correlation and heterogeneity, the common correlated effects – CCE estimator proposed by Pesaran (2006) has been used. Although the findings differ for countries, they reveal that there are important relationships between macroeconomic variables and savings.

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Section: Literature Reviewmentioning

confidence: 99%

The Effect of Macroeconomic Variables on Private Savings in BRICS-T Economies

TELEK

MİÇOOĞULLARI

2022

İktisadi İdari Ve Siyasal Araştırmalar Dergisi

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Türkiye's Unique Circle: Is Competitive Exchange Rate a Solution?

Can

2024

Politik Ekonomik Kuram

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As in most cases, need to be questioned Turkey's monetary policy tools for economic development in the country's savings. With the decisions taken after 2015, this understanding has created a unique circle in a way that will greatly advance the country's economy. The economic management in the country is being trained in this negative situation. In this study, the mutual causality relationship between the exchange rate, inflation and interest, which are the main targeting areas of the monetary policy, which puts the savings rate and the country's economy in a corrosive cycle, is tried to be explained with the method developed by Toda-Yamamoto (1995). According to results of this analysis the competitive exchange rate strategy does not have a significant effect on savings. It is possible to conclude that reverse savings may be the cause of the competitive exchange rate. In other words, the preference for a competitive exchange rate strategy due to the lack of savings can be seen as significant in this study. In Turkey, like many other developing countries, steps to achieve economic development must be viewed not only through the lens of monetary policy but also from the perspective of planning that ensures policy coherence, given the country's chronic issues.

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Tasarruflar Ve Makroekonomi̇k Deği̇şkenler Arasindaki̇ Uzun Dönemli̇ İli̇şki̇: Oecd Ülkeleri̇ Örneği̇

Cited by 2 publications

References 60 publications

The Effect of Macroeconomic Variables on Private Savings in BRICS-T Economies

The Effect of Macroeconomic Variables on Private Savings in BRICS-T Economies

Türkiye's Unique Circle: Is Competitive Exchange Rate a Solution?

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